Where Savvy Buyers Are Snagging Condos for Under $100K: A City-by-City Breakdown

Scoring affordable real estate in today’s market feels nearly impossible, but apartment hunters have options if they know where to look. The challenge? Most apartments in major metros are held by institutional investors for rental purposes rather than sale. But condos for residential ownership remain available in select markets, and several U.S. cities still offer inventory below the $100,000 threshold.

Understanding Your Apartment Options

Before diving into specific markets, it’s worth knowing the distinction between what you’re actually buying. In densely populated areas like New York, Boston, and Chicago, traditional apartments are occasionally listed for sale. Elsewhere, you’ll encounter condos or co-ops—and they’re structurally different.

When you purchase a condo, you receive the actual deed to your unit, much like buying a house. Rental options typically come with minimal restrictions beyond standard tenant qualification requirements. Co-op purchases, by contrast, mean you’re buying shares in an entire building. This structure comes with tighter board approval processes and strict subletting limitations, sometimes capping rentals at just two years. For those wanting flexibility with their investment, condos for purchase generally offer fewer headaches.

The Six Markets Where $100K Gets You In

Austin, Texas continues drawing residents through economic expansion and cultural momentum. While downtown prices have climbed, peripheral neighborhoods and established developments still harbor pockets of value where condos for under $100,000 remain within reach.

Cincinnati, Ohio presents one of the nation’s lower cost-of-living profiles. The local market overflows with affordable housing options, including condos and apartment-style units well below six figures, particularly outside premium zones.

Indianapolis, Indiana rivals Cincinnati’s affordability advantage. Midwest pricing means condo inventory for approximately $100,000 is achievable, though serious buyers should expand their search into suburbs and neighboring areas where selection expands dramatically.

Orlando, Florida boasts an oversupply of condo units relative to demand. This inventory glut has pushed many condos for sale into the sub-$100K category, though premium-priced options do exist at higher price points.

Portland, Oregon requires patience and geographic flexibility. Look beyond the central core, and affordable options emerge. Outer neighborhoods offer condos for under $100,000 to those willing to sacrifice central location for purchase price.

Salt Lake City, Utah maintains overall market stability with accessible pricing. The region showcases diverse condo options particularly in suburban zones, with market fundamentals supporting long-term affordability.

The Reality Check

National data shows median condo prices ranging from $161,500 in Cleveland to $800,000 in San Francisco—making these six markets statistical outliers. Finding condos for genuinely affordable prices requires targeted research and realistic expectations about location tradeoffs.

The bottom line: Budget-conscious apartment hunters need not give up entirely, but success means accepting either peripheral locations or older developments. Condos for under $100,000 still exist; they simply demand investors do their homework.